SLC Bookkeeping Customer Case Studies

Mountain Yoga Sandy

Sandy, UT 1-10 employees Yoga Studio

Company Summary:

Mountain Yoga Sandy has been offering hatha yoga classes to the Salt Lake Valley for 10 years. Over the years our studio has become a South Valley Sanctuary where people from all backgrounds come together to discover and or deepen their yoga practice and understanding of health. We offer a variety of classes to include both kids and pre-natal classes. See our real time schedule on our website at www.mountainyogasandy.com“Continued practice is where we all learn the most whether in asana or stillness the journey never ends”

Before SLC Bookkeeping:

All bookkeeping was being handled internally. The studio owner was handling the bookkeeping with the help of a yoga instructor. They were not sure if all bookkeeping aspects were being handled correctly. Additionally they were constantly being pulled from the bookkeeping to other studio tasks that needed to be handled. The bookkeeping was often pushed to the back burner.

The studio never really knew the full financial picture of what was going on in the business. Due to the fact that they were unsure if they were looking at accurate financial reports they were lost as to how to improve the business financially. They often found themselves looking at online bank balances for guidance on cash flow.

In the beginning the owner tried handling all the aspects of the business including bookkeeping. This left him stressed and overworked. He did not understand how to properly execute and set up systems in the business.

The yoga studio didn't have an outside business perspective. Internally they could bounce ideas off of each other, but they didn't have anyone that intimately knew the business financially to seek advice from.

They discovered that January was the busiest month for the studio. However, the management team was buried in year-end bookkeeping tasks rather than focusing on growing the business.

Salt Lake City Bookkeeping can help your yoga studio grow.

How Did SLC Bookkeeping Help?

SLC Bookkeeping was able to handle most of the bookkeeping for the studio. However, the yoga studio owner was still kept involved in the bookkeeping process for some of the higher level tasks such as bill payment and financial analysis.

Our bookkeeping services provided the yoga studio with up to date and accurate financial reports on a regular basis. This allowed them to focus on growing the business with real time accurate financial information. The bookkeeping was updated on a weekly basis which gave the owner complete control over cash flow.

Regular bookkeeping updates allowed the studio managers to look forward in the business instead of backwards. The combination of more time and accurate financial data helped the owner focus on growing his business. In addition they were able to work closely with Mindbody to use the point of sale system and financial reporting to find new sales opportunities.

Using an outsourced bookkeeping service gave the studio an outside business perspective on their business. SLC Bookkeeping knew the business intimately from a financial perspective. The studio was able to get an opinion from someone that knew the business well, but was not financially invested in the business.

Mountain Yoga Sandy was able to avoid year-end bookkeeping tasks by involving an outsourced bookkeeping service. SLC Bookkeeping took care of all 1099's, final year-end bookkeeping tasks and communication with the CPA to get taxes filed. This left the studio owners with plenty of time to give their full focus to growing the business with the start of a new year.

Results of using SLC Bookkeeping's service

“Transitioning from 7 years of in house bookkeeping to utilizing Salt Lake Bookkeeping services allowed us to really capitalize on Mindbody’s marketing abilities and financial forecasting. With the help of Salt Lake Bookkeeping Mountain Yoga was able to increase sales by 30% and free up time to service our clients.”

About Us

Businessmen by trade, adventurers at heart; we understand the difficulties of running a small business and balancing a fulfilling life outside of work. We want to make the same thing easy for you. We offer day-to-day financial planning, personalized mentoring, and consulting services that will help you better understand the financial needs for your business and plan to meet your long-term goals.